Last week, THQ attempted to sell its properties to Clearlake Capital Group, a private equity firm. The sale was blocked by legal action following complaints by the company’s debt holders that THQ’s actions did not have those debt holder’s best interests at heart, an assertion supported by statements made by THQ’s executives.

It now appears that THQ has reached an agreement to auction off its franchises individually. Everything from Red Faction to the WWE license is on the table, with Saints Row drawing particular attention due to its impressive sales record.

Those interested include Electronic Arts and Warner Bros., the former of which already managed to grab the UFC license from THQ in advance of last year’s E3. Questions abound as to how this will affect the development of titles nearing release, such as Company of Heroes 2 and Metro: Last Light.